SUPPLY CHAIN/RESPONSIBLE PROCUREMENTS

The Group has a wide and diverse suppliers base with more than 10,000 active suppliers for material and equipment purchasing or services hiring, including multinational companies as well as SMEs and local businesses. The suppliers base is updated in the context of a sustainable supply chain.

The development and maintenance of a supply chain with added value for the Group, with economic, environmental and socially responsible methods and practices is an ongoing challenge, and is in line with the Group's vision.

The Group’s suppliers are deemed as essential partners if we are to achieve our business objectives which in turn ensures competitiveness and sustainable development that not only affect our financial performance but also our relationships with other stakeholders.

For these reasons, our partners are selected and evaluated so that we are able to improve our overall performance in sustainable development. Their evaluation is based not only on business criteria, but also on sustainable development criteria (through relevant questionnaires). The refineries’ contractors are also further evaluated in terms of their performance in Health, Safety and Environment, each time they complete the task that they are assigned.

An emphasis is also placed on supporting local communities through selecting local suppliers wherever possible and in accordance with the Purchasing Regulation, (see Chapter ‘’Society’’, Section ‘’Local Communities’’ for more detailed information about buying locally).

Moreover, by the end of 2015, we began to integrate "compliance clause” with the United Nations Global Compact principles to our suppliers’ new contracts and purchase orders (in the areas of human rights, labor, environment and corruption).

The Group aims to be viewed as a preferred partner by its suppliers who themselves adopt common values and principles, through a defined framework of cooperation, in accordance with our Procurement Manual and Code of Conduct, fostering synergies and long-term relationships, consisting of transparency and respect for competitiveness, meritocracy and equal opportunities.

We constantly cooperate with our suppliers with regards to information and the application of environmental standards, responsible labor practices, and respect for human rights seen through the fact that contractors at our industrial installations regularly participate in training on Occupational Health & Safety (see Chapter “Human Capital’’, ‘’Health & Safety Training’’ Section).